Marketing During a Recession

It is true businesses are facing tough times, the first thing most businesses do is pull their marketing budget. I want you to understand that I advise against it. Studies have shown that in previous recessions businesses that continued to invest in marketing saw growth in their businesses, while those that pull their budgets saw a decrease in sales.

How can you market during a recession? There are low-cost and even no-cost ways to market your product and I am here to share with you the information that you need to keep your business on track even during these difficult financial times.

Why You Should Not Cut Your Marketing Budget During a Recession?
The news is all around us, we are headed for an economic downturn. Companies all over are tightening their budgets and their first inclination is to cut their marketing budget. Stop! Let me explain to you why more than ever you should consider your marketing spend as an investment and not an expense.

Marketing Through an Economic Downturn
It is true it’s getting harder to market during these economic times. Truth is a recession affects three major areas when it comes to marketing. Learn how to handle the economic slow down by having a deeper understanding of these three areas and what you can do that your competitor isn’t.

How to Set Your Marketing Budget
Every week I receive questions regarding how much to spend on marketing. Determining how much of your resources to marketing within your company can be one the biggest obstacles that businesses face. It can also be a key component that can make or break a business. There are guidelines that will help in allocating your resources, learn what I recommend when it comes to marketing budgets.

No-Cost and Low-Cost Marketing Tips
The biggest request in my inbox this January, “Laura, how do I save money in my marketing?” I hear you. Having two businesses of my own, I am always looking for ways to market that are low cost, but yet still effective. There are ways to do. It takes creativity and knowing your target marketing to be successful, but you can do it. I’ve found that the best tips come from those who are doing them and share them with you.

How to Outsource Your Marketing

In today’s economy it’s not uncommon for businesses to begin to look at the option of outsourcing their marketing rather than doing it in house. Outsourcing can save you the overhead of a marketing department, but what should you look for when contemplating this option to ensure that it’s successful and you don’t get financial burned.

By Laura Lake

Via:  http://marketing.about.com/od/marketingplanandstrategy/a/mrktrecession.htm

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